Sprout Social (NASDAQ:SPT) Shares Gap Down to $50.94

Sprout Social, Inc. (NASDAQ:SPTGet Rating)’s share price gapped down before the market opened on Monday . The stock had previously closed at $50.94, but opened at $47.45. Sprout Social shares last traded at $46.80, with a volume of 3,138 shares traded.

A number of equities research analysts have weighed in on the stock. Robert W. Baird dropped their price target on shares of Sprout Social from $165.00 to $110.00 in a research report on Wednesday, February 23rd. Cantor Fitzgerald dropped their price objective on shares of Sprout Social from $99.00 to $80.00 in a research note on Wednesday, May 4th. Canaccord Genuity Group dropped their price objective on shares of Sprout Social from $155.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd. Piper Sandler lowered their price target on shares of Sprout Social from $125.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 23rd. Finally, Barclays decreased their price objective on shares of Sprout Social from $91.00 to $79.00 in a research report on Wednesday, May 4th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Sprout Social currently has a consensus rating of “Buy” and a consensus price target of $104.09.

The company’s 50-day moving average price is $58.43 and its two-hundred day moving average price is $70.12.

Sprout Social (NASDAQ:SPTGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Sprout Social had a negative net margin of 15.69% and a negative return on equity of 22.10%. The business had revenue of $57.43 million for the quarter, compared to the consensus estimate of $56.25 million. During the same period in the prior year, the company earned ($0.12) EPS. Sprout Social’s quarterly revenue was up 40.7% on a year-over-year basis. On average, sell-side analysts anticipate that Sprout Social, Inc. will post -0.74 earnings per share for the current year.

In related news, CFO Preto Joseph Del sold 439 shares of the stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $83.07, for a total transaction of $36,467.73. Following the completion of the sale, the chief financial officer now directly owns 135,489 shares of the company’s stock, valued at $11,255,071.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Aaron Edward Frederick Rankin sold 32,000 shares of the stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $77.39, for a total transaction of $2,476,480.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,811 shares of company stock valued at $9,576,911. Insiders own 13.33% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its position in shares of Sprout Social by 73.5% during the 3rd quarter. Invesco Ltd. now owns 1,676,198 shares of the company’s stock valued at $204,412,000 after acquiring an additional 710,280 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Sprout Social during the 4th quarter valued at about $49,603,000. Victory Capital Management Inc. lifted its holdings in Sprout Social by 4,899.1% during the 1st quarter. Victory Capital Management Inc. now owns 355,787 shares of the company’s stock valued at $28,431,000 after purchasing an additional 348,670 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Sprout Social by 104.9% in the first quarter. Jennison Associates LLC now owns 544,809 shares of the company’s stock worth $43,650,000 after acquiring an additional 278,939 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Sprout Social by 352.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 327,281 shares of the company’s stock worth $29,681,000 after acquiring an additional 254,921 shares during the last quarter. Institutional investors and hedge funds own 83.30% of the company’s stock.

About Sprout Social (NASDAQ:SPT)

Sprout Social, Inc designs, develops, and operates a web-based social media management platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.

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